财报数据显示，百果园一直维持着较低的盈利水平。早在2019年和2020年，百果园的毛利率为9.8%和 9.1%，2021年，百果园向加盟商提高了商品售价，毛利率略有提升。2021年至2023年，百果园的毛利 率保持在11%左右。然而，2024年，百果园毛利率跌至7.44%。对此，公司在年报中表示，2024年下半 年采取措施优化毛利率较低的产品阵容，以满足消费者对高品质与高性价比产品的需求。由此看来，百 果园推出过性价比高的产品，但消费者觉得仍不够。 整体来看，百果园的毛利率比竞品洪九果品低不少。虽然后者在2023年已停牌，但此前的财报显示，洪 九果品的毛利率在2021年至2023年间稳定在15%以上。 截至2024年底，百果园的零售门店数量同比净减少966家，剩下5127家。 百果园（02411.HK）正处在舆论的风口浪尖。 近日，面对网友吐槽"百果园水果太贵"，一段来源为"百果余惠勇"的视频显示，百果园董事长余惠勇回 应水果贵，表示"水果这个产品非常普通，但是真正了解水果的非常少，我们仍然会坚守做高品质 的""百果园这么多年来都走在教育消费者成熟的路上，我们不会去迎合消费者，他并不清楚所谓的便宜 之类的，我 ...

Core Viewpoint - The article discusses the backlash against Baiguoyuan's chairman Yu Huiyong for his comments on consumer education, highlighting a disconnect between the company's pricing strategy and consumer expectations regarding quality and value [4][25]. Group 1: Company Background and Consumer Sentiment - Baiguoyuan was founded in 2001 by Yu Huiyong with an initial investment of 400 RMB, quickly gaining consumer trust by focusing on high-quality fruit and a customer-friendly return policy [12]. - Consumer sentiment has shifted from trust to disappointment, as many feel that the quality of Baiguoyuan's products has declined while prices remain high [8][25]. - The company has faced numerous complaints regarding product quality, including reports of selling spoiled or improperly handled fruit [13][16][20]. Group 2: Financial Performance and Strategic Shifts - In 2024, Baiguoyuan reported a revenue of 10.27 billion RMB, a decline of 9.8% from the previous year, and a pre-tax loss of 391 million RMB [30]. - The company has closed nearly 1,000 stores, reducing its total to 5,127, averaging 2.6 store closures per day [32]. - Despite previous growth, Baiguoyuan's financial performance has deteriorated, with a significant drop in both revenue and net profit since its IPO [29][36]. Group 3: Market Position and Competitive Landscape - Baiguoyuan's market position is challenged by increasing competition from community group buying and local fresh food stores, which offer fresher and cheaper options [36]. - The company's strategy of not catering to consumer preferences has raised concerns about its ability to compete effectively in a rapidly changing market [36]. - The decline in paid membership numbers, down 27.1% to 854,000, indicates a loss of core customers who once valued quality [34].

Core Viewpoint - The chairman of the company, Yu Huiyong, stated that the company will not cater to consumer demands for lower prices, emphasizing the importance of educating consumers about quality over price [1] Company Performance - In 2024, the company reported a revenue of 10.273 billion yuan, a year-on-year decline of 9.8% [1] - The company experienced a pre-tax loss of 391 million yuan, contrasting with a profit of 381 million yuan in the same period last year, marking the first net loss in five years [1] - Upon its listing on the Hong Kong Stock Exchange in January 2023, the company's market value peaked at 9.474 billion HKD [1] - As of August 11, the company's stock price fell by 1.71% to 1.720 HKD per share, resulting in a market value of 2.648 billion HKD [1] Consumer Education and Market Position - Yu Huiyong highlighted the need for consumer education regarding the true value of high-quality fruits, stating that many consumers lack knowledge about the differences in fruit quality [1] - The company aims to maintain high quality and will not compromise on it for the sake of lowering prices, despite acknowledging consumer perceptions of high prices [1] - The company has millions of members who recognize its value, which is crucial for its sustainability in the market [1]

齐鲁晚报·齐鲁壹点 魏银科 8月8日百果园董事长余惠勇关于"教育消费者成熟，不迎合消费者"的言论，瞬间点燃了舆论火药桶。48 小时内，"百果园称不会迎合消费者"冲上热搜首位。消费者的不满也如潮水般涌来："买个水果还要被 上课？""月薪两万吃不起水果""到底谁在吃百果园？"……这一番"教育论"看似立意高远，实则与百果 园当下的市场境遇、消费者需求背道而驰，深刻暴露出企业在品牌认知与市场策略上的严重偏差。 余惠勇提出商业仅有"利用消费者的无知"与"教育消费者成熟"两种，坚称百果园走的是教育消费者成熟 的道路。这一观点乍听之下，似乎凸显了企业的"使命感"，但在实际语境中，却充满了居高临下的"傲 慢"。消费者花钱购买水果，是为了满足生活需求，不是来接受企业"教育"的。这种无视消费者主体地 位的言论，难免让人反感，网友那句"买个水果还要被上课"，便是大众情绪的生动写照。 百果园此次"教育论"翻车，是品牌叙事与用户体验断裂的必然结果。在竞争激烈的水果零售市场，品 质、价格与服务才是立足之本。如果不能真正满足消费者需求，再漂亮的言辞、再高的品牌定位，都难 以支撑企业长远发展。市场是无情的，消费者的选择就是最好的评判标准，希 ...

Core Viewpoint - The chairman of Baiguoyuan, Yu Huiyong, sparked controversy with his statement that the company will not cater to consumers but instead educate them, leading to a significant drop in the company's stock price [1][3]. Company Summary - Baiguoyuan's stock price fell by as much as 7% following the chairman's remarks, with a slight recovery to a 0.5% decline at the time of reporting [1]. - The company is facing a trust crisis, with a reported revenue of 10.273 billion yuan in 2024, a year-on-year decline of 9.8%, and a net loss of 386 million yuan [3]. - The number of Baiguoyuan stores decreased by 966 within a year, averaging 2.64 closures per day [3]. - The company's "three no-return" policy (no receipt, no physical item, no reason for return) has been criticized, revealing issues with quality control and the burden of return costs on franchisees [3]. Industry Summary - The Chinese fruit retail market is highly competitive, with the rise of community group buying and fresh e-commerce platforms like Meituan and Duoduo, which offer rapid delivery and lower prices [4]. - Young consumers prioritize cost-effectiveness over premium narratives, leading to a shift away from high-priced products like those offered by Baiguoyuan [4]. - Baiguoyuan's strategy to position itself as a "high-quality fruit expert" is contradictory, as it attempts to cut franchise fees while simultaneously launching promotional activities that lower prices [4]. - The failure of brands like Zhong Xue Gao serves as a warning that without quality and emotional resonance, high prices can backfire [5].

"消费者花个钱，结果一天到晚光被教育。"某小红书网友的吐槽，道出了最近百果园热搜事件的核心。#百果园称不会迎合消费者#的话题火了，董事长余惠 勇亲自下场回应"水果贵"争议，却把自己推上了舆论风口。 事情源于余惠勇在短视频平台的IP运营。不管是小红书刚起步的新号，还是持续运营的抖音账号，其团队深谙流量密码——先自黑抛争议，再请董事长亲自 回应。在"百果园水果太贵？董事长亲自回应！"的视频里，余惠勇解释称："真正的好水果供不应求，我们坚守高品质，不会迎合消费者对便宜的盲目追 求。商业要么利用消费者无知，要么教育消费者成熟，百果园选择后者。" 然而媒体和网友只记住了关键句：百果园贵，是因为要教育消费者，不会迎合！经过二次剪辑后，"教育消费者""不迎合"等词成了导火索。地方融媒体加工 传播后，话题迅速冲上热搜第一，在榜13小时，123家媒体跟进报道，而原视频已悄然下架，但"百果园被消费者教育"的讨论愈演愈烈。 这场景似曾相识。李宁高管说"中国消费者缺乏教育"深陷舆情，钟薛高因"就是这么贵"成"雪糕刺客"最终倒闭，巴奴火锅老板一句"月薪5000别吃火锅"成"火 锅刺客"。才过5个月，百果园就主动认领了"水果刺客"标签， ...

Core Viewpoint - The recent comments by the chairman of Baiguoyuan, Yu Huiyong, regarding consumer education and pricing strategy have sparked significant controversy, leading to a decline in the company's stock price [1][3]. Company Performance - Baiguoyuan's revenue for 2024 was reported at 10.273 billion yuan, representing a year-on-year decrease of 9.8% [4]. - The company experienced a net loss of 386 million yuan, marking its first loss in many years [4]. - As of the end of 2024, the number of Baiguoyuan stores decreased by 966, leaving a total of 5,127 stores [5]. - The number of paid members also saw a significant decline, dropping to approximately 850,000, a decrease of 27.1% [5]. Consumer Sentiment - Yu Huiyong's assertion that Baiguoyuan will not cater to consumer preferences but instead aims to educate them has drawn criticism, with some consumers expressing their discontent through social media [3]. - Previous controversies regarding pricing have also surfaced, with consumers commenting on the high prices of Baiguoyuan's products, suggesting that even high earners find them unaffordable [3]. Quality Concerns - Baiguoyuan has faced scrutiny over product quality, with reports of substandard practices, including the sale of spoiled fruits and mislabeling of products [4].

Core Viewpoint - The controversy surrounding Baiguoyuan's chairman Yu Huiyong's comments reflects a disconnect between the brand's high-end positioning and consumer expectations, leading to a significant decline in market trust and financial performance [2][6][10] Group 1: Company Background and Development - Baiguoyuan was established in 2001, initially targeting the mid-to-high-end fruit market, and rapidly expanded due to rising consumer income and demand for quality products [4] - The company went public on the Hong Kong Stock Exchange in 2023, with an initial stock price of 6.98 HKD and a market capitalization of nearly 9.5 billion HKD, but has since seen its stock price drop to 1.75 HKD, representing a 71% decline in market value [4][5] Group 2: Financial Performance - Despite five consecutive years of profitability from 2019 to 2023, Baiguoyuan reported a loss of 391 million CNY in 2024, with a reduction of 966 stores, leaving only 5,127 locations [5] - The decline in performance is attributed to a tightening consumer environment and significant quality control issues, leading to negative customer experiences [5][6] Group 3: Consumer Perception and Brand Trust - Instances of poor product quality, such as moldy fruit and foreign objects in products, have eroded consumer trust, contradicting the brand's promise of high quality [6][8] - The chairman's comments about "educating consumers" have been perceived as condescending, further aggravating the situation and leading to public backlash [2][6][10] Group 4: Market Dynamics and Consumer Behavior - The current market environment features both consumption downgrade and quality upgrade, necessitating companies to listen to consumer needs and optimize their offerings rather than adopting a superior attitude [10] - Consumers are increasingly discerning about value for money, making it essential for brands to align product quality with pricing and marketing claims [8][10]

Group 1 - The core viewpoint of the article is that the company, Baiguoyuan, emphasizes educating consumers about the true value of high-quality fruits rather than catering to their demand for cheaper options [1][3] - Baiguoyuan's chairman, Yu Huiyong, highlighted the significant quality differences among fruits, stating that lower-priced fruits are often of inferior quality, while high-quality fruits are in short supply and thus more expensive [3][4] - The company has a strong membership base of several million who recognize its value, and it aims to optimize costs to lower prices without compromising on quality [3][4] Group 2 - Baiguoyuan was founded in 2001 with an initial investment of 400 yuan, and it successfully went public on the Hong Kong Stock Exchange in January 2023 [4] - Following its IPO, the company experienced a sharp decline in revenue growth, with a revenue growth rate dropping to 0.69% and net profit growth falling to 11.88% [4] - In the first half of 2024, Baiguoyuan reported a significant decline in both revenue and net profit, with revenue down 11% and net profit down 66.06% year-on-year [4][5] - The company's 2024 financial report indicated a revenue of 10.273 billion yuan, a year-on-year decrease of 9.8%, and a pre-tax loss of 391 million yuan, marking its first net loss in five years [5] - The term "cost-performance ratio" appeared 25 times in the financial report, indicating a focus on value [5] - Starting August 2024, Baiguoyuan plans to upgrade its product category operation system based on consumer behavior data to optimize its product mix [5]

百果园(2411.HK)盘中一度跌8%，报1.61港元。消息面上，百果园董事长近日发视频回应有关水果价格 太贵的问题时表示："商业分两种：利用消费者无知或教育其成熟，百果园选择后者，绝不迎合消费者 对便宜的追求"，该言论迅速引发大量争议。 有网友表示，这种将消费者对便宜、性价比的追求定义 为"无知"，并强调要"教育其成熟"的表述，是一种自带"爹味"的优越感，仿佛品牌与消费者之间是老师 与学生的关系，而非平等的供需关系。 对于该事件的发酵，8月10日，百果园相关负责人称，该短视频 有意截取了董事长发言最具争议的部分制造对立，"完整的内容有前因后果，并非文中断章取义"。被百 果园认为是"断章取义"的言论，出自视频中余惠勇说的以下这段话，原文是："我认为商业就两种，第 一个利用消费者的无知，第二个教育消费者成熟，像百果园这么多年来都走在一个教育消费者成熟的路 上。我们不会去迎合消费者，他并不清楚的，所谓的便宜之类的，我们想告知消费者，最后是消费者自 己的选择。" 本文源自：金融界AI电报 ...